When a company is listed on the stock exchange, it should appoint an audit committee within the supervisory board. The committee must include an independent director with audit or accounting competence.
Although foreign exchange permits are rarely required in Poland anymore, companies must still remember about certain central bank requirements in this area.
Under amendments to the WSE Code of Best Practice, companies will have to publish their sponsorship policies and comment on false reports about the company.
At a general meeting of a listed company, shareholders have a right to ask questions about the company’s affairs, but management is not required—or even allowed—to answer some of them.
From 2012, foreign investors wishing to invest directly in financial instruments in Poland should no longer need to open a securities account at a Polish brokerage or trust company.
The deadline for Poland to implement the EU’s revised investment fund regulations came and went on 30 June 2011, but since then the Ministry of Finance has published its initial proposal to codify UCITS IV.